Montagu, a leading European private equity firm, announced today that it has agreed to sell Covidence to funds managed by EMK Capital LLP, a UK based private equity firm. Terms of the transaction are not being disclosed.
Covidence is the global technology leader in the niche professional market of miniature covert video and audio surveillance equipment. The business was founded in 2007 and is based in Rønde, Denmark. Montagu led the buyout of Covidence in 2015.
Over its four years of ownership, Montagu has helped the business to grow its top line through the development of new products and platforms, and by enhancing the go-to-market strategy. Covidence achieved double digit annual sales growth over the period from 2015 to 2018.
William Blair acted as financial advisor to Montagu and Covidence.
Completion is expected in May 2019.